Central China Goldfields PLC
Central China Goldfields PLC: START OF EXPLORATION SNOW MOUNTAIN AND DONG MAO HUO GOLD PROJECTS
Central China Goldfields PLC / Research Update Release of a Corporate News, transmitted by DGAP - a company of EquityStory AG. The issuer / publisher is solely responsible for the content of this announcement. ---------------------------------------------------------------------- Central China Goldfields plc ('GGG' or 'the Company') START OF EXPLORATION SNOW MOUNTAIN AND DONG MAO HUO GOLD PROJECTS LONDON – 10 May 2007 –Central China Goldfields plc (AIM: GGG) is pleased to announce further exploration work at the Snow Mountain and Dong Mao Huo projects. Highlights: • Snow Mountain scoping study commissioned at the Baima area (Songpanguo-Hujiagou, Shiuniujia and Gaojiamo exploration licences) to be conducted by independent mining consultant AMC Australia in early June • Detailed geological mapping and trenching commenced at the Shang Peng Zi Licence area in Snow Mountain • Exploration work underway at existing gold mine Dong Mao Huo to test Chinese standard resources and exploration potential Jeff Malaihollo, Managing Director of Central China Goldfields, comments: 'We have three separate exploration teams working simultaneously at Nimu, Snow Mountain and Dong Mao Huo. In addition, we continue to assess potential new projects. This is a very busy and exciting year for Central China Goldfields, and of course, Nimu is currently being drilled with the first results expected shortly.' Geological Details: Field work will start with assessment of the Shang Peng Zi licence area ('SPZ'). Previous work at the SPZ prospect indicates that it is a structurally-controlled, possibly mesothermal, gold deposit containing six mineralised zones identified by geologic mapping and geochemical sampling. The controlling structures are a series of shear zones that strike 320° and generally dip 50° to 60° to the southwest. The mineralised zones are strike persistent with a maximum strike length of about 1,500m and the depth can be potentially extended down to at least 200m. The gold assays from rock chip sampling of the old trenches and a tunnel (52 samples) in 2006 were anomalous. Sixty per cent. of the surface sample returned gold values >0.1 grammes per tonne gold (g/t Au) up to a maximum of 1.37 g/t Au. Gold mineralisation is associated with quartz veining and anomalous arsenic and antimony. The work at SPZ consists of detailed geological mapping and trenching with an aim to delineate targets for drilling. The Company has also signed a contract with AMC Australia to conduct a scoping study at the Baima area (Songpanguo-Hujiagou, Shiuniujia and Gaojiamo exploration licences). The study is directed at assessing the geological potential of the property. The scoping study will be based on data acquired thus far and speculative assumptions in the absence of hard data. It is estimated that the scoping study has an accuracy not better than +/- 30%. The Company will use the results to either make further funding commitments or to explore surrounding areas. The scoping study will start in early June. Field work at Dong Mao Huo also has begun with the aim of testing the Chinese standard resources quoted by our partner and checking its exploration potential. The work initially consists of geological mapping. Reverse Circulation (RC) drilling will be undertaken in June and geophysical work will start soon afterwards. Technical information in the Company news release has been reviewed and approved by Ciceron 'Jun' Angeles (MSc. FAusIMM, CP Geo) the Company's Exploration Manager. For Further Information: Central China Goldfields plc Dr. Jeffrey Malaihollo Tel: 020 7621 0200 Email: info@ccgoldfields.com www.ccgoldfields.com Hanson Westhouse Limited Anita Ghanekar / Cailey Barker Tel: 020 7601 6100 Gresham PR Ltd Neil Boom Tel: 020 7404 9000 King & Shaxson Capital Limited Nick Bealer Tel: 020 7426 5986 DGAP 10.05.2007 ----------------------------------------------------------------------
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